DOJ Cracks Down on Alleged Tax Fraud: Orlando Preparer Facing Civil Command
Scheme Unveiled: Allegations of Fraudulent Tactics in Tax Preparation
According to Niceville.com, the US Department of Justice has taken decisive action against tax trouble in Orlando tax return preparer Julius T. Price, and his firm Price’s Accounting Firm Inc. by filing a civil injunction to permanently bar them from preparing federal income tax returns for others. Court documents reveal that Price who has been in the tax preparation business since 2003 allegedly engaged in a scheme to understate his clients’ tax liabilities and overstate their refunds through various fraudulent tactics. These tactics include fabricating businesses on tax returns to generate false losses making fictitious claims for the Earned Income Tax Credit (EITC) and inventing deductions and credits for expenses such as tuition, medical expenses, mortgage interest, and charitable gifts.
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Protecting Taxpayers: DOJ’s Response and Call for Vigilance of the Tax Trouble in Orlando
Tax trouble in Orlando, the complaint, filed in the U.S. District Court for the Middle District of Florida, asserts that Price’s fraudulent practices have resulted in the loss of significant federal tax revenue, estimated to exceed $1.5 million. Deputy Assistant Attorney General David A. Hubbert of the Justice Department’s Tax Division emphasized the importance of taxpayers remaining vigilant against unscrupulous tax preparers and encouraged individuals to seek reputable preparers who meet the IRS’s credentials and qualifications. The IRS has provided resources on its website to assist taxpayers in choosing trustworthy preparers and has launched a free directory of federal tax preparers to aid in this endeavor for tax trouble in Orlando. The allegations against Julius T. Price and Price’s Accounting Firm Inc. underscore the need for vigilance and caution when selecting a tax preparer. As the investigation unfolds, authorities are committed to holding accountable those who seek to defraud the government and taxpayers alike. This case serves as a reminder of the importance of transparency, integrity, and adhered to tax laws in the realm of financial services.
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